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CONSOLIDATED STATEMENTS OF INCOME (Unaudited) - USD ($)
$ in Thousands
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Interest income        
Loans $ 26,610 $ 22,409 $ 50,541 $ 44,875
Investment securities 448 269 922 570
Federal funds sold and interest-bearing deposits with banks 180 53 239 99
Total interest income 27,238 22,731 51,702 45,544
Interest expense        
Deposits 1,844 920 2,752 2,075
Borrowings 510 381 902 766
Total interest expense 2,354 1,301 3,654 2,841
Net interest income 24,884 21,430 48,048 42,703
Provision for (reversal of) credit losses 1,775 (1,900) 2,880 (2,200)
Net interest income after provision for credit losses 23,109 23,330 45,168 44,903
Noninterest income        
Mortgage banking income 1,184 1,983 2,678 6,616
Service fees on deposit accounts 209 173 400 358
ATM and debit card income 563 521 1,092 991
Income from bank owned life insurance 315 331 630 598
Net lender and referral fees on PPP loans 268 268
Loss on disposal of fixed assets (394) (394) 10
Other income 388 346 788 685
Total noninterest income 2,265 3,622 5,194 9,526
Noninterest expenses        
Compensation and benefits 9,915 8,724 19,371 17,834
Occupancy 2,219 1,552 3,997 3,190
Other real estate owned expenses 1 388
Outside service and data processing costs 1,528 1,391 3,062 2,704
Insurance 367 262 628 563
Professional fees 693 615 1,292 1,210
Marketing 329 208 596 398
Other 737 742 1,528 1,370
Total noninterest expenses 15,788 13,495 30,474 27,657
Income before income tax expense 9,586 13,457 19,888 26,772
Income tax expense 2,346 3,134 4,678 6,083
Net income $ 7,240 $ 10,323 $ 15,210 $ 20,689
Earnings per common share        
Basic (in Dollars per share) $ 0.91 $ 1.32 $ 1.91 $ 2.65
Diluted (in Dollars per share) $ 0.9 $ 1.29 $ 1.88 $ 2.6
Weighted average common shares outstanding        
Basic (in Shares) 7,957,631 7,847,516 7,944,814 7,811,217
Diluted (in Shares) 8,054,910 7,987,615 8,075,496 7,948,294